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Does Negative News Reporting on the Economy Get Reflected in Companies’ Business Situation?

David Iselin

No 17-388, KOF Working papers from KOF Swiss Economic Institute, ETH Zurich

Abstract: We examine the effects of negative economic news reporting on companies' self-assessment of their business situation. In order to measure this negativity effect, we introduce a new daily business indicator for the Swiss manufacturing sector and examine the influence of newspaper articles, which we scan for particular keywords, on a daily basis. We use OLS and VAR models to examine the mutual influence of negative news and the business situation of private companies. The results show a negative influence of news reporting on the self-assessment of the companies surveyed, also when controlling for the overall economic situation. However, the negative effect is not stable in all our set-ups.

Date: 2017-01
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Working Paper: Does Negative News Reporting on the Economy Get Reflected in Companies' Business Situation? (2015) Downloads
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